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Blackpearl Group Q4 FY24 Results Announcement

15/04/2024, 08:30 NZST, MKTUPDTE

Blackpearl Group Q4 FY24 Results Announcement INTRODUCTION Blackpearl Group (BPG) today presents its results for the fourth quarter ending on 31 March 2024, demonstrating hyper growth and strategic advancements. KEY HIGHLIGHTS - Subscription Revenue: Achieved $1.3 million, marking a 184% year-on-year increase and a 10% quarter-on-quarter increase from Q3 FY24. - Annual Recurring Revenue (ARR): Reached $7.4 million as of 31 March 2024, reflecting a 177% year-on-year increase and a 33% quarter-on-quarter increase from Q3 FY24. - Gross Profit Margin: Achieved 75% for Q4 FY24, showing significant improvement from 52% in Q4 FY23 and 73% in the previous quarter, Q3 FY24. - ARR Per Employee: Recorded at $230k as of 31 March 2024, exhibiting a 359% year-on-year increase and a 25% quarter-on-quarter increase from Q3 FY24. BPG's Chief Executive Nick Lissette commented on Q4 results, saying: "Our fourth quarter has been our strongest yet, marking the close of a financial year characterised by hyper growth." Our monthly revenue acquisition velocity grew by 33% from Q3 to Q4, reaching an average of $800k in new ARR per month. Lissette's focus is on sustained exponential growth through innovation and strategic moves, such as exploring DIY capabilities within our software. Empowering customers with self-service options not only optimises resource allocation but also unlocks new market avenues, particularly within affiliate marketing and marketplace opportunities. FINANCIAL UPDATE "Q4 concluded with strong financial performance, reflecting our strategic initiatives and resilient market positioning," says Karen Cargill, CFO. "We remain focused on prudent fiscal management and sustainable growth strategies, driving towards our long-term objectives." FUTURE OUTLOOK As we review the past quarter, our focus on robust growth and profitability has been clear, with an emphasis on innovation, market expansion, and customer-centric product development as we enter the new fiscal year. Looking forward, Blackpearl Group is positioned for a dynamic future. Our strategy is anchored in diversification, harnessing cutting-edge technologies, and exploring self-service capabilities within our software. This approach reflects our commitment to operational efficiency and expanding our market footprint. Released for and on behalf of BPG, Karen Cargill Chief Financial Officer For further information, please contact: Karen.cargill@blackpearl.com | +64 21 135 5183 ENDS About Blackpearl Group Blackpearl Group (BPG) is a market leading data technology company that pioneers AI driven, sales and marketing solutions for the US market. Specifically engineered for small-medium sized businesses (SMEs), BPG consistently delivers exceptional value to its customers. Our mantra is simple: 'Better Growth Together'. When our customers win, we win. Founded in 2012, BPG is based in Wellington, New Zealand, and Phoenix, Arizona. Blackpearl.com End CA:00429526 For:BPG Type:MKTUPDTE Time:2024-04-15 08:30:15